Adding to the bullish sentiment, analysts at Needham maintained their Buy rating and nearly doubled their price target on the stock to $41 from $21.

Benzinga Edge Rankings: Underscoring the stock’s powerful upward movement, Benzinga Edge rankings show the stock has an exceptional Momentum score of 98.74 alongside a positive price trend across all timeframes.

APLD Price Action: Applied Digital shares were up 22.98% at $36.04 at the time of publication Friday, according to Benzinga Pro.

The stock is trading well above its 50-day ($18.44), 100-day ($14.27) and 200-day ($10.63) moving averages, suggesting a robust upward trend. Key support levels may be established around these moving averages, while resistance could be tested at psychological levels above the current price.

Read Also: IREN Stock Hits New 52-Week High: What’s Driving The Action?

How To Buy APLD Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Applied Digital’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

Image: Shutterstock